Thursday, April 7, 2016

Oil Market Update : Epic Research Singapore

The U.S. oil benchmark scored its biggest one-day jump in three weeks Wednesday after weekly government data showed a large and unexpected fall in U.S. crude inventories and an increase in demand by refineries.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK6, +1.03%  advanced $1.86, or 5.2%, to close at $37.75 a barrel. The jump was the biggest since March 16. June Brent crude LCOM6, +0.65%  on London’s ICE Futures exchange rose $1.97, or 5.2%, to finish at $39.84 a barrel.

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